Boxed Closes $110 Funding Round Led By Japan’s Aeon Group

After various acquisition offers didn’t work out, club-based grocery and CPG ecommerce startup Boxed has secured a $110 funding round, validating the company’s technology and market position as the e-grocery space continues to heat up.

The funding round was led by Aeon Group, one of Japan’s largest retail chains, which will also be a technology partner. Other participants included Alpha Square Group and CDIB Capital. The deal values Boxed at about $600 million, according to the New York Times.

Chieh Huang, founder and CEO of Boxed, said the company’s hardware and software capabilities, plus a network of four fulfillment centers, allow it to fulfill 90% of domestic customer orders in two days or less. In addition to the acquisition offers, he said Boxed has been approached about licensing its technology – like Kroger recently did with UK-based e-grocer Ocado – but added the company is not “actively pursuing” that…